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Tyson cuts 3,200 jobs and closes beef plants amid shrinking U.S. herds
Tyson said the cuts are tied to USDA data showing U.S. cattle herds at their lowest levels since the 1950s, with supply constraints likely to persist.
Tyson Foods is downsizing its U.S. beef operations, cutting at least 3,200 jobs and closing multiple plants as U.S. cattle herds fall to their smallest levels in decades, according to Yahoo Finance. The company pointed to Department of Agriculture data published last month indicating cattle herds are at their lowest since the 1950s. The reduced supply has pushed up beef prices, adding financial pressure on meatpacking firms that must adjust their business in a difficult economic environment. Tyson announced last week it will shutter a plant in Joslin, Illinois, while selling another beef facility in Pasco, Washington. The company also said it plans to close an additional beef production plant in Eagle Pass, Utah and retrench its domestic footprint around three facilities in Texas, Kansas, and Nebraska. In its justification for the changes, Tyson cited the USDA cattle data, saying supply constraints are likely to persist and will require strategic action. The report also notes broader efforts in the sector, including a $500 million USDA lifeline for smaller meatpackers announced in late June and a Justice Department antitrust investigation into Tyson, JBS, Cargill, and National Beef.